Three months ended
June 30,

Six months ended
June 30,

2012

2011

2012

2011

(In thousands, except per share data)

Numerator:

Net income

$

1,432

$

1,938

$

2,997

$

3,201

Preferred stock dividends and accretion of preferred stock discount

262

290

525

580

Net income available to common shareholders

$

1,170

$

1,648

$

2,472

$

2,621

Denominator:

Weighted average common shares outstanding (basic)

19,584

21,208

20,132

21,208

Effect of stock options/warrants

68

28

54

25

Weighted average common shares outstanding (diluted)

19,652

21,236

20,186

21,233

Earnings per common share:

Basic

$

0.06

$

0.08

$

0.12

$

0.12

Diluted

0.06

0.08

0.12